Page 23 - Risk Management Bulletin Jan- Mar 2021

RMAI BULLETIN JANUARY TO MARCH 2021

remain subdued in coming years, allowing the Fed to The project has identified 13 cyclone-prone States and
point to cumulative shortfalls from its two percent goal Union Territories, with varying levels of vulnerability.
to support delaying the start of policy tightening. Apart from this, Indian National Centre for Ocean
Incoming data support our view that underlying Information Services (INCOIS) has developed a device
inflation is slowing, not accelerating." named GEMINI (GAGAN Enabled Mariner's Instrument
Cyclone landfall: Web-based tool for Navigation and Information). It is a simple handheld
device that receives the information transmitted
developed to forecast expected through GAGAN and feeds that to the mobile handset
damage through Bluetooth connection. An App developed by
National Disaster Management Authority (NDMA) in INCOIS converts the satellite messages in the form of
readable maps and text, stated Harsh Vardhan, Union
collaboration with India Meteorological Department
(IMD) has recently developed a web-based Dynamic Minister for Science & Technology, Earth Sciences, and
Composite Risk Analysis (Web-DCRA) & Decision Health & Family Welfare.
Support System (DSS) tool for forecasting the expected In a written reply in Rajya Sabha, Harsh Varshan
damage associated with the landfalling cyclones over remarked that the Indian Government has made
the coastal districts in India. This new development will provision for such devices under the Pradhan Mantri
enable the disaster managers to conduct a better Matsya Sampada Yojana (PMSSY). Under this scheme,
assessment of the vulnerable areas. This is under support is provided to procure PFZ devices, network,
National Cyclone Risk Mitigation Project (NCRMP) of the and cost of installation as part of "Strengthening of
Government of India with a view of addressing cyclone safety and security of fishermen".
risks in the country. The cyclone forecast accuracy has significantly

The primary objective of the project is to undertake improved in recent years as has been demonstrated
suitable structural and non-structural measures to during cyclones Phailin (2013), Hudhud (2014), Vardah
mitigate the effects of cyclones in the coastal states (2016), Titli (2018), Fani and Bulbul (2019), and
and UTs of India. National Disaster Management Amphan, Nivar and Nisarga (2020). During recent
Authority (NDMA) under the aegis of the Ministry of years, the loss of life due to cyclone has been
Home Affairs (MHA) will soon implement this project drastically reduced being limited to double-digit
in coordination with participating State Governments. figures, the statement read.

RMAI Activities

Chapters : We are shortly going to open chapters of the Association all over India. The role of the chapters
would be to promote the cause of Risk Management in the local area by organizing workshops, seminars
and interactions. Interested persons/bodies having the urge to promote the concept may contact the Secretary
General for the formalities.
Workshop/Seminars : We shall be conducting workshops and seminars across India on recent Risk
Management Developments to discuss and deliberate on various issues related to Risk Management, Safety,
Fraud, Technology and other relevant areas.

Research/Case study : We are encouraging members to submit case study on various industries which
may serve as a road-map to others and help to adopt best business practices in Risk Management.

Certificate Courses : We ar going to offer certificate courses on Risk Management and allied areas for
the members. We have tiedup with Association of Internal Control United Kindom to offer their courses in
India. We have also tiedup with Chartered Insurance Institute, London to offer their courses in India.
Tie-up with Risk Management Bodies : We have tiedup with the Professional bodies around the world
to gain insight about their activities and new developments in the Risk Management field.
Online Repository : We are maintaining a online repository of Risk management related information at
our website www.rmaindia.org We shall be sharing various information, PPT, articles, Links, Glossary, Case
study for the members.

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